This is the formula for the TY dividend
The dividend program will be directly linked to Tysabri market performance calculated as a percentage of the Tysabri royalty paid to Elan from Biogen Idec as a result of the recently announced Tysabri restructuring. The initial percentage to be paid out directly to shareholders is 20 % of those royalties.
In the deal with Biogen, Elan's royalty payments on future Tysabri sales, which rose 8 percent to $1.63 billion in 2012, will be 12 percent for the first year, 18 percent after that, and 25 percent when annual sales rise above $2 billion.
Shareholders would get 5 percent of any income on the drug above $2 billion. Biogen aims to increase patient numbers over time to 100,000 from the 72,700 at the end of last year, a level that would make Tysabri a $2 billion drug.
I think all other plans, except possibly Theravance are still subject to shareholder approval.
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